Scheff has two sons: Jason and Darin Scheff. Jason has been the bassist for the band Chicago since 1985. He co-wrote the song "Bigger Than Elvis" as a tribute to his father, featuring himself on vocals and Jerry on the bass guitar. As of 2010[update], he splits his time between his native California and his home in a small village in Northumberland, England with his wife Natalie.

Scheff wrote the 2012 musical autobiography titled Way Down: Playing Bass with Elvis, Dylan, the Doors, and More: The Autobiography of Jerry Scheff.[2]

In 2013 and 2014, Scheff performed two concerts in Birmingham (UK) with the singer Janson Bloomer, playing the greatest hits of Elvis Presley, Bob Dylan, and the Doors.